Demographic freeze will depopulate the North, -2.3 million by 2040. It will go from 27.4 million inhabitants in 2023 to 25.1 million.
The heaviest effects will be seen in Lombardy (-673 thousand), Piedmont (-493 thousand) and Veneto (-387 thousand) Fewer inhabitants will mean a smaller internal market, therefore lower consumption but also lower investments. This is what a study by the Nordest Foundation states, starting from the negative birth rate record recorded in2023.